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Canada Tax Reform Income Taxes

Bennett Jones LLP

CRA Relief and Proposed Amendments Mitigate Bare Trust Reporting Burden on Energy Companies

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On October 29, 2024, the Canada Revenue Agency (CRA) issued a release stating that it will not require bare trusts to file trust returns for the 2024 tax year, continuing the administrative exemption that was granted for the...more

Lippes Mathias LLP

Canada’s Capital Gains Tax and the Exodus to the U.S.

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There may be a change coming to the way Canada taxes capital gains. While Prime Minister Justin Trudeau claims it will affect a minuscule percentage of Canadians, it has more than a minuscule percentage of Canadian taxpayers...more

Bennett Jones LLP

Incentivizing Employees: Avoiding a Salary Deferral Arrangement

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Incentivizing employees is a critical component of most business strategies. Employers may implement arrangements for deferred cash bonuses, often subject to the satisfaction of certain criteria. From a tax perspective, the...more

Stikeman Elliott LLP

Tax Base Erosion: Canada Responds with Draft EIFEL Rules Legislation

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On August 4, 2023, the Department of Finance released an updated version of the draft legislation that will incorporate the excessive interest and financing expense limitation rules (“EIFEL Rules”) into the Income Tax...more

Bennett Jones LLP

The Alternative Minimum Tax Goes Mainstream

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The 2023 Budget proposes material changes to the alternative minimum tax (AMT) regime which, as discussed below, could result in significant increases to taxes on capital gains (i.e.,5-6 percentage points). Although...more

Miller Canfield

Important Tax Changes Coming into Effect in Canada

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The new year has brought with it some important tax changes for businesses and residential property owners in Canada....more

Blake, Cassels & Graydon LLP

Budget fédéral de 2022 – Présentation de certaines mesures fiscales

Le 7 avril 2022 (le « jour du Budget »), la ministre des Finances du Canada a présenté le budget fédéral de 2022 (le « Budget 2022 »). Certains contribuables ont peut-être été soulagés de constater que le Budget 2022 ne...more

Blake, Cassels & Graydon LLP

2022 Federal Budget: Selected Tax Measures

On April 7, 2022 (Budget Day), the Minister of Finance introduced Canada’s 2022 Federal Budget (Budget 2022). While taxpayers may be relieved that Budget 2022 does not include an increase to the capital gains inclusion rate...more

Bennett Jones LLP

Canada Proposes New Tax Reporting Requirements for Bare Trusts

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Bare trusts across Canada could soon be required to file annual returns with the Canada Revenue Agency, or face large penalties for failing to report....more

Bennett Jones LLP

Income Tax Update from the Supreme Court of Canada: The GAAR Does Not Apply to Treaty Shopping

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The Duke of Westminster Principle Still Lives On for Tax Planning - On November 26, 2021, the Supreme Court of Canada released its decision and reasons in Her Majesty the Queen and Alta Energy Luxembourg S.A.R.L., 2021 SCC...more

Blake, Cassels & Graydon LLP

Selected Tax Measures from the 2018 Fall Economic Statement: Changes for Capital Assets, Canadian Journalism

On November 21, 2018, Canada’s Finance Minister Bill Morneau presented the federal government’s Fall Economic Statement (Statement), which includes significant tax changes that take effect immediately. This bulletin...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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A mix of corporate tax cuts and a strong economy helped propel US corporate profits to a 16.1% year-over-year gain, the best figure in 6 years...more

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